Today, the Watches of Switzerland Group announced the acquisition of five existing watch retail stores and the opening of one new store.
Watches of Switzerland continues to expand in the hot US watch market and has acquired the Ben Bridge location at Mall of America and Timeless Luxury Watches in Plano, Texas, both of which have already been converted to Watches of Switzerland branding. The group also acquired three of the four prestigious Betteridge stores — in Greenwich, Vail, and Aspen — with the Betteridge family retaining ownership of the Palm Beach location. Operations will be taken over by Watches of Switzerland but Betteridge branding will remain on the three locations for the foreseeable future. Terry Betteridge will take on an advisory role in conjunction with the 3 acquired locations.
“In many ways this seems like a return to our roots for Betteridge, with my family coming to the US from England in 1892, bringing with them generations worth of metalworking skills,” says Terry Betteridge. He continues, “I’m honored to be able to bring the experts of my house, the craftsmen and generational tradition of excellence, to join Watches of Switzerland. Being a valued part of their global network will allow for the greater world to experience what makes Betteridge so special.”
In addition to the five marquee retail acquisitions — including the Greenwich, CT store which is now WOSG’s largest location by square footage — Watches of Switzerland is also opening a brand new location in Kenwood, Ohio.
“Since the acquisition of Mayors in 2017, followed quickly by the opening of Watches of Switzerland SoHo, The Group has shown its acute command of the US market and deep understanding of its discerning and diverse consumers,” says David Hurley, EVP of The Watches of Switzerland Group USA. He continued, “As leaders in the industry, we understand the responsibility that comes with that role and look forward to expanding our team in North America while investing in the growth of each of these new markets and communities.”
Through these five acquisitions and the opening of Watches of Switzerland in Kenwood, Ohio, The Group will be increasing US personnel by 75 through retention and new hires.
“After three years of strong foundational growth in the US market, these acquisitions and new openings are directly in-line with the projections we forecasted in our Long Range Plan,” states Brian Duffy, CEO of Watches of Switzerland Group. He continued, “Through focused investment on new projects and acquisitions, we continue our geographical diversification in order to solidify our position as the preeminent leader in the US market.”
Photos by Watches of Switzerland.